RIGL's JAK2 inhibitor for RA in conjunction with SK failed in ph3 today. One less competitor for INCY, which is felt to potentially have the best in class drug since it only has to be taken once a day orally and has good toxicity profile in ph2
The main reason I am still holding is the possible approval of the RA drug without it this stock gets cut in half from here Im afraid . Does anyone know a possible date for approval? Ive watched a lot of bio techs over the years and some never get a drug approved. So INCY is one up up on a lot of bio techs..
Earliest possible is around a year and a quarter from now. Lilly is running this one, so they figure to approach the approval process with a "Measure twice; cut once" attitude. That makes the best-case date a little later, but lowers the risk of big setbacks.
One clearly hopes that this would be the case, though sadly this will have nil effect on Incyte. It was only 6 or 8 weeks ago that Lilly ( Incyte's Partner ) just dumped its other JAK phase 3 program with another company and this did not move the needle for Incyte. Jasoca will agree if you ask him, IMHO
I recall their dropping a pathway-targeted RA trial, but I don't recall that it was the JAK pathway. FDA has set a very high standard for RA drugs, so I'm less encouraged by the failure of a potential competitor than concerned whether bari will make it over the bar (although I still think it is very likely to succeed)